(VOVWORLD) - The G7 Leaders’ Summit, to be held in Canada from Sunday until next Tuesday, will be the first high-level meeting of the world’s most industrialized nations since President Trump’s reelection last November. The gathering will take place against a backdrop of global trade tensions driven by US tariff policy and geopolitical conflicts in many parts of the world.
Canada’s vision
The Office of Canadian Prime Minister Mark Carney announced last Friday the priorities that will guide the 2025 Summit. Canada will seek agreements and co-ordinated action on three core missions.
First is protecting its communities and the world by strengthening peace and security, countering foreign interference and transnational crime, and improving joint responses to wildfires. Second is building energy security and accelerating the digital transition by fortifying critical mineral supply chains and using artificial intelligence and quantum computing to unleash economic growth. Third is securing the partnerships of the future by catalyzing enormous private investment to build stronger infrastructure, create higher-paying jobs, and open dynamic markets where businesses can compete and succeed.
Other discussions will include obtaining a just and lasting peace for Ukraine and other areas of conflict around the world. Canada’s invitation to Ukrainian President Volodymyr Zelensky suggests that the Russia-Ukraine conflict will remain central to the discussions.
At the G7 Finance Ministers’ Meeting in late May in Canada, the participants discussed scenarios for Ukraine’s post-conflict reconstruction, and a major agreement on the matter is likely to be reached at the upcoming Summit. This aligns with Canada’s strategic agenda vision that the G7’s future lies in engagement with external partners, not just internal cooperation.
This is a very consequential moment for the G7, Canada’s Finance Minister François-Philippe Champagne said. “Our role is to restore stability and growth. Those are the two main objectives.”
Reflecting this inclusive vision, Prime Minister Carney has invited several non-G7 leaders to this year’s Summit, including President Zelenskyy, Australian Prime Minister Anthony Albanese, South African President Cyril Ramaphosa, Brazilian President Luiz Inácio Lula da Silva, and Mexican President Claudia Sheinbaum. Notably, despite ongoing diplomatic tensions, Canada also invited Indian Prime Minister Narendra Modi. However, his attendance remains uncertain following a tragic plane crash on Thursday in Gujarat.
The tariffs
President Trump’s first attendance at a G7 Summit since he returned to office will be an opportunity to ease trade tensions between member countries, particularly those stemming from US tariff policy. Ahead of the meeting, senior EU and Japanese officials expressed hope that face-to-face dialogue with Trump in Canada could accelerate negotiations and possibly conclude a new trade agreement at the event. Expectations are especially high for Japan, with whom President Trump said the US is close to reaching an agreement.
“We’ll show the Japanese Prime Minister and the US President how far our tariff negotiations have gone. This Summit presents a ripe opportunity for us,” Ryosei Akazawa, Japan’s Minister for Economic Revitalization and chief negotiator, said.
German Chancellor Friedrich Merz said Thursday that Europe expects the US to soon reach a deal similar to the one it just signed with China on Tuesday in London.
Mexican President Sheinbaum voiced a similar view. However, observers remain skeptical about a breakthrough at the Summit. During the G7 Finance Ministers and Central Bank Governors Meeting on May 22, no significant progress was made on easing trade tensions with the US. In fact, just a day later, President Trump threatened to impose 50% tariffs on EU goods.
Besides tariff issues, G7 members and close partners are also dealing with disagreements over security and defense and Trump’s controversial statement that the US wants to annex Canada and Greenland (owned by Denmark) and review the AUKUS security pact signed in 2021 with the UK and Australia.
Prior to the Summit, Prime Minister Carney said Canada will boost defense autonomy, strengthen ties with the EU, and reduce reliance on the US.
Finally, the humanitarian crisis in Gaza and the recently reignited conflict between Israel and Iran could expose further divisions between the US, a key ally of Israel, and the European nations, who have adopted increasingly critical stances toward Israel.